KARACHI: Bestway Cement Limited announced on Friday its plans to significantly expand its production and energy capabilities with the establishment of a Brownfield cement plant and a 6.4 MW off-grid solar power plant.
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Murree Brewery registers 22% growth in quarterly profit
KARACHI: Murree Brewery Company Limited on Friday announced financial results for the quarter ended September 30, 2021. The profit after tax of the company increased by 22 per cent to Rs437 million for the quarter under review as compared with Rs357.2 million in the corresponding quarter of the last year.
The company declared earning per share (EPS) at Rs15.80 for the period as against Rs12.91 in the same period of the last year.
The board of directors of Murree Brewery Company Limited in their meeting held on October 22, 2021 recommended an interim cash dividend for the quarter ended September 30, 2021 at Rs5 per share i.e. 50 per cent. However, the board has not recommended any bonus shares, right shares or any other entitlement.
According to the financial results submitted to the Pakistan Stock Exchange (PSX), the company’s net turnover increased to Rs3.71 billion for the quarter ended September 30, 2021 as compared with Rs3.05 billion in the same quarter of the last year.
Cost of sales also increased to Rs2.76 billion as compared with Rs2.22 billion. The company declared gross profit of Rs945 million as compared with Rs832 million.
The operating profit of the company grew to Rs525 million as compared with Rs469.52 million. The payment of tax for the quarter was flat at Rs160.5 million as compared with Rs160.48 million.
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KSE-100 index up 322 points on IMF program hopes
KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) on Thursday gained 322 points on expected resumption of IMF program.
The KSE-100 index closed at 45,821 points as against previous day’s closing of 45,500 points, showing an increase of 322 points.
Analysts at Arif Habib Limited said that a clear signal of concluding IMF review and resumption of IMF Package by Shaukat Tarin swayed the index to add a total of 665 points during the session, which has cumulatively added around 3000 points since the near term bottom of 43200 points.
Bank and E&P stocks contributed the most, whereas selling pressure was witnessed in Technology and Cyclicals (Cement and Steel) sectors.
After making an intra-day high, Investors resorted to profit booking that brought the net gains to reach 322 points at the end of session.
Anticipation of interest rate hike by SBP in the coming monetary policy helped the banking sector stocks to stage a rally, and E&P stocks inched up on the prospects of US$100/bbl for international crude oil price.
Among scrips, BOP topped the volumes with 25.5 million shares, followed by TELE (24.2 million) and HUMNL (23.8 million).
Sectors contributing to the performance include Banks (+220 points), E&P (+97 points), Fertilizer (+80 points), Cement (+31 points) and Chemical (+29 points).
Volumes increased from 308.1 million shares to 338.3 million shares (+10 per cent DoD). Average traded value also increased by 29 per cent to reach US$ 76.8 million as against US$ 59.7 million.
Stocks that contributed significantly to the volumes include BOP, TELE, HUMNL, WTL and UNITY, which formed 34 per cent of total volumes.
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KSE-100 index gains 870 points on IMF talks resumption
KARACHI: The KSE-100 index registered an increase of 870 points on Wednesday as investors’ sentiments improved on IMF talks resumption.
The benchmark KSE-100 Index of Pakistan Stock Exchange (PSX) at 45,500 points as against last trading on October 18, 2021 at 44,629 points.
Analysts at Arif Habib Limited said that as the news of resumptions of dialogue with IMF team relayed, investors’ concerns over the package started dissipating, causing the Index to make an upward swing.
Cement, Technology, Banks, Fertilizer stocks remained in the limelight. Cement stocks led the index on news of Cement companies increasing the cement price / bag, whereas dwindling outflows from foreign counters in Banks and Fertilizer stocks also helped these sectors post healthy gains.
Among scrips, WTL led the volumes with 49.3 million shares, followed by HUMNL (24.7 million) and BYCO (15.6 million).
Sectors contributing to the performance include Banks (+201 points), Cement (+160 points), Technology (+106 points), Fertilizer (+79 points) and Textile (+49 points).
Volumes increased from 248.2 million shares to 308.2 million shares (+24 per cent DoD). Average traded value also increased by 18 per cent to reach US$ 59.8 million as against US$ 50.8 million.
Stocks that contributed significantly to the volumes include WTL, HUMNL, BYCO, TELE and UNITY, which formed 39 per cent of total volumes.
Stocks that contributed positively to the index include TRG (+65 points), LUCK (+58 points), ENGRO (+50 points), HUBC (+49 points) and HBL (+44 points). Stocks that contributed negatively include OGDC (-8 points), NESTLE (-7 points), HGFA (-6 points), GHGL (-5 points) and KAPCO (-4 points).
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NCCPL to collect CGT for August 2021 on October 29
KARACHI: National Clearing Company of Pakistan Limited (NCCP) on Wednesday said that it will collect Capital Gain Tax (CGT) for the month of August 2021 on Friday October 29, 2021.
In a communication sent to stock brokers and investors, the NCCPL said that the aggregate amount of CGT arising on disposal of shares at Pakistan Stock Exchange for the period August 01, 2021 to August 31, 2021, would be collected on Friday October 29, 2021 through respective settling banks of the Clearing Members.
The NCCPL advised all clearing members to ensure requisite amount in their respective settling bank’s account. Necessary details and reports for the period have already been made available in the CGT System.
Further, the aggregate amount of CGT arising on trading of future commodity contracts at Pakistan Mercantile Exchange (PMEX) for the period August 01, 2021 to August 31, 2021, would also be collected from the Pakistan Mercantile Exchange on Friday October 29, 2021. Necessary details and reports for the said period have already been made available.
Clearing Members and Pakistan Mercantile Exchange are advised to verify the investor wise details of capital gain or loss and tax thereon, if any, through reports/downloads. Please note that, in case of none or partial collection of CGT, necessary action would be taken in accordance with the Rules and NCCPL Regulations.
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KSE-100 index falls on uncertainty in IMF negotiations
KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) fell by 192 points on Monday. The index declined owing to uncertainty in dialogues of the government authorities with the IMF.
The index closed at 44,629 points as against last Friday’s closing of 44,821 points.
Analysts at Arif Habib Limited said that the market took pressure from the negative news vibes due to delay in negotiating the resumption of IMF package.
Though, the Ministry of Finance highlighted that the negotiations are ongoing and underlying terms will be negotiated soon, the investors had not like the uncertainty.
Oil chain and banking stocks went positive earlier in the session that added a total of 169 points on the index, however, selling pressure eroded this gain and MoC brought the Index in negative territory.
Among scrips, HUMNL topped the volumes with 25.1 million shares, followed by WTL (20.8 million) and HASCOL (13.8 million).
Sectors contributing to the performance include Technology (-146 points), Cement (-47 points), Engineering (-27 points), Textile (-24 points) and Refinery (-18 points).
Volumes declined from 334.3 million shares to 248.3 million shares (-26 per cent DoD). Average traded value also declined by 25 per cent DoD to reach US$ 51 million as against US$ 68.2 million.
Stocks that contributed significantly to the volumes include HUMNL, WTL, HASCOL, UNITY and DSL, which formed 34 per cent of total volumes.
Stocks that contributed positively to the index include HBL (+48 points), MCB (+31 points), OGDC (+30 points), PPL (+29 points) and ENGRO (+27 points). Stocks that contributed negatively include TRG (-88 points), SYS (-47 points), BAHL (-42 points), FFC (-22 points) and UNITY (-17 points).
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Weekly Review: Stock market likely to move positive
KARACHI: The stock market likely to move positive during next week on hope of resumption of IMF program.
Analysts at Arif Habib Limited said that the market to move positive as we get closer to resuming the IMF program and receiving a $1 billion tranche.
Whereas recent bouts of selling at the index has once again opened up valuations; we advise investors to cherry-pick blue chip stocks with a long term focus, they said.
Key short term risks include: regional volatility and the ensuing security concerns, together with PKR depreciation.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 5.2x (2021) compared to Asia Pac regional average of 14.7x while offering a dividend yield of 8.1 per cent versus 2.2 per cent offered by the region.
The benchmark equity bourse closed in green after four weeks of bleeding. During the early part of the week investors resorted to panic selling amid lack of clarity on continuation of the IMF package as well as delay in the process to appoint a new Director General of the ISI (DG ISI).
Albeit, with Finance Minister assuring that the government would soon address concerns of the global lender and resume the IMF’s EFF, as well as PM’s statement allaying any rumors of a military-political divide, the KSE-100 index posted two swift back to back bull runs. The market closed at 44,821 points, (gaining 344 points / up by 0.8 per cent WoW).
Sector-wise positive contributions came from i) Commercial Banks (393 points), ii) Oil & Gas Exploration Companies (136 points), iii) Fertilizer (123 points), iv) Cement (98 points), and v) Pharmaceuticals (28 points). Whereas, sectors which contributed negatively were i) Technology & Communication (342 points), and ii) Food & Personal Care Products (50 points). Scrip-wise positive contributors were HBL (153 points), PPL (87 points), UBL (67 points), LUCK (59 points) and OGDC (42 points). Meanwhile, scrip-wise negative contribution came from TRG (260 points), SYS (70 points) and PAKT (27 points).
Foreign selling continued this week, clocking-in at USD 13.3 million compared to a net sell of USD 3.7 million last week. Major selling was witnessed in Fertilizer Sectors (USD 12.1 million), Commercial Banks (USD 7.8 million) and Cement (USD 3.11 million). On the local front, buying was reported by Insurance Companies (USD 12.2 million) followed by Mutual Funds (USD 3.4 million). Average volumes clocked-in at 342 million shares (up by 29 per cent WoW) while average value traded settled at USD 71 million (up by 20 per cent WoW).
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Stocks gain 488 points on positive sentiments
The Pakistan stocks experienced a bullish trend on Friday as the benchmark KSE-100 index soared by 488 points, closing at 44,822 points. This marked a significant increase from the previous day’s closing of 44,334 points, reflecting a rise of 1.1 percent.
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Bulls dominate trading; KSE-100 index gains 1112 points
KARACHI – The Bulls took firm control of the Pakistan Stock Exchange (PSX) on Thursday as the benchmark KSE-100 index posted a substantial gain of 1,112 points. The KSE-100 index closed at 44,334 points, significantly higher than the previous day’s close of 43,222 points, reflecting renewed investor confidence and improved sentiment.
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KSE-100 index inches up in choppy sentiments
KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) increased by 54 points on Tuesday as investors’ sentiments remained choppy during the day.
The KSE-100 index closed at 43,883 points from the previous day’s closing of 43,829 points.
Analysts at Topline Securities said that the KSE 100 Index witnessed a volatile session, printed an intra-day low of 43,149 (down 1.55 per cent) and an intra-day high of 44,051 (up 0.51 per cent), to eventually close the day 43,883.
Sentiments remained choppy as the delay in the ISI chief notification kept the investors cautious.
Moreover, higher international oil prices kept concerns alive over inflationary pressures and further monetary tightening by the State Bank of Pakistan.
The commercial banks sector continued to see investor interest as the sector closed up on average 2.20 per cent for the day.
HBL, UBL, ABL, BAHL, BOP & BAFL cumulatively added 175.79 points to the benchmark index while on the other hand TRG alone dragged the index lower by 89.81 points and closed the day at 141.09, down 5.46 per cent for the day.
Volume saw a slight uptick as compared to yesterday with total traded volume and value clocking in at 404.85 million shares and Rs15.6 billion, respectively. The volume leader for today was WTL with 51.14 million shares exchanging hands.